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Amanda Wilson

No Tax Deduction for Medical Marijuana Company

By Amanda Wilson on Oct 29, 2015 in Other, IRS, medical marijuana, tax court

By:  Amanda Wilson As more and more states are allowing for medical marijuana or other legal uses of marijuana, it is important to recognize that the federal government's treatment of marijuana as a controlled substance can have more than criminal...

New Partnership Audit Rules Heading Our Way??

By Amanda Wilson on Oct 28, 2015 in audit, government, International, IRS, Partnership Tax, Tax

By:  Amanda Wilson The budget bill introduced yesterday includes a proposal to revamp/streamline how partnerships are audited.  Specifically, it would repeal the  much maligned TEFRA (1982 Tax Equity and Fiscal Responsibility Act) rules. The overall...

Undisclosed Foreign Bank Accounts - Watch Out!

By Amanda Wilson on Oct 22, 2015 in Other

By:  Amanda Wilson Today's Wall Street Journal has an interesting article detailing the type of information many Swiss banks are disclosing to the Justice Department in order to avoid criminal prosecution for the banks' activities in helping U.S....

Beware Transferee Liability

By Amanda Wilson on Oct 15, 2015 in International, irc, IRS, medical marijuana, S Corporation, Tax, transferee

By:  Amanda Wilson One of the great features of corporations is that liability in the corporation generally does not extend to its shareholders, including tax liability.  Like any rule, though, there is almost always an exception.   In this case,...